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Does institutional environment affect the economic development? Evidence from selected CEE countries

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  • Lejla TERZIĆ

    (University of East Sarajevo, Faculty of Economics Brčko, Bosnia and Herzegovina)

Abstract

Economic theory identifies different variables, affecting economic development. Many economists and analysts focused their research from the determinants in the neoclassical economic growth model to the three rooted variables of economic development: institutions, geography and openness to trade. Aim of this paper is to investigate linkage between institutional environment and economic development in the selected Central and Eastern European countries (CEE). In order to explore relationship of the “deep determinants” of economic development to institutional environment several methodological approaches have been used. Empirical research was accomplished via SPSS 21 statistical software package. The results indicate the significance of institutional environment for future economic development.

Suggested Citation

  • Lejla TERZIĆ, 2017. "Does institutional environment affect the economic development? Evidence from selected CEE countries," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(3(612), A), pages 19-28, Autumn.
    • Handle: RePEc:agr:journl:v:3(612):y:2017:i:3(612):p:19-28
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